Fastly (NYSE:FSLY) Updates Q4 2024 Earnings Guidance

Fastly (NYSE:FSLY) issued an update on its fourth quarter 2024 earnings guidance on Wednesday morning. The company provided EPS guidance of -0.020-0.020 for the period, compared to the consensus EPS estimate of 0.030. The company issued revenue guidance of $136.0 million-$140.0 million, compared to the consensus revenue estimate of $137.3 million. Fastly also updated its FY 2024 guidance to -0.120–0.080 EPS.

Wall Street Analysts Forecast Growth

FSLY has been the topic of several research reports. Robert W. Baird lifted their price objective on shares of Fastly from $7.00 to $8.00 and gave the stock a “neutral” rating in a research report on Thursday. Piper Sandler increased their price objective on Fastly from $6.00 to $8.00 and gave the company a “neutral” rating in a report on Thursday. DA Davidson raised their target price on Fastly from $5.50 to $7.50 and gave the stock a “neutral” rating in a research report on Thursday. Morgan Stanley cut their price target on Fastly from $12.00 to $7.00 and set an “equal weight” rating for the company in a research note on Tuesday, August 27th. Finally, Royal Bank of Canada lifted their price objective on Fastly from $6.00 to $7.00 and gave the stock a “sector perform” rating in a report on Thursday. One analyst has rated the stock with a sell rating and eight have issued a hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $7.94.

Fastly Price Performance

FSLY traded down $0.50 on Friday, reaching $7.67. The company had a trading volume of 4,691,265 shares, compared to its average volume of 2,557,700. The company has a current ratio of 4.13, a quick ratio of 4.13 and a debt-to-equity ratio of 0.35. Fastly has a 52-week low of $5.52 and a 52-week high of $25.87. The business has a 50 day simple moving average of $7.09 and a 200 day simple moving average of $7.61.

Fastly (NYSE:FSLY) last announced its earnings results on Wednesday, August 7th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.01. Fastly had a negative net margin of 27.47% and a negative return on equity of 13.19%. The company had revenue of $132.37 million during the quarter, compared to analyst estimates of $131.62 million. During the same period in the previous year, the business earned ($0.32) earnings per share. The firm’s quarterly revenue was up 7.8% compared to the same quarter last year. On average, sell-side analysts forecast that Fastly will post -0.96 EPS for the current year.

Insider Transactions at Fastly

In other news, CTO Artur Bergman sold 16,748 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $6.18, for a total value of $103,502.64. Following the completion of the sale, the chief technology officer now directly owns 6,225,980 shares in the company, valued at approximately $38,476,556.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Todd Nightingale sold 66,066 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $6.18, for a total transaction of $408,287.88. Following the completion of the transaction, the chief executive officer now owns 1,662,952 shares in the company, valued at $10,277,043.36. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Artur Bergman sold 16,748 shares of the company’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $6.18, for a total value of $103,502.64. Following the completion of the sale, the chief technology officer now directly owns 6,225,980 shares in the company, valued at approximately $38,476,556.40. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 192,628 shares of company stock worth $1,287,959. 6.70% of the stock is currently owned by corporate insiders.

Fastly Company Profile

Fastly, Inc operates an edge cloud platform for processing, serving, and securing its customer's applications in the United States, the Asia Pacific, Europe, and internationally. The edge cloud is a category of Infrastructure as a Service that enables developers to build, secure, and deliver digital experiences at the edge of the internet.